Lido launches Lido Lend: Improved forked lending market based on Morpho Blue
On Wednesday, Lido contributors officially announced the Lido Lend plan. This is a proposed lending market built on the improved fork of Morpho Blue, Morpho's core lending agreement. According to the proposal, Lido Lend adopts an isolated market design designed to serve long-term passive lenders and professional borrowers, including those that engage in leveraged cycles.
As the governing party of the liquidity pledge agreement behind Lido Staked ETH (stETH), contributors to Lido DAO (LDO) revealed plans on Wednesday. The lending market will be built under the revised Morpho Blue agreement. According to a proposal published at the Lido Governance Forum, this product aims to expand Lido's business from pledges to DeFi lending. More than $25 billion in value is currently pledged in the form of stETH, and Lido Lend will expand this ecosystem by isolating the market and providing additional safeguards for depositors.
"The next track is borrowing"
Lido co-founder Konstantin Lomashuk wrote on the X platform (formerly Twitter):"Lido has built the most secure pledge solution in the crypto industry: More than $24 billion in assets have been pledged. This market has matured, and the next goal is to borrow."
Lido Lend's mechanism for isolating the lending market
根据提案,Lido Lend 围绕多个独立的隔离市场构建,而非单一共享的资金池。贡献者在文中明确指出,该产品“并非旨在成为通用型的 pooled lending(池化借贷)解决方案”,而是为了补充现有的市场结构。
目标用户与资产策略:
- 贷款人:针对持有链上资产并寻求收益的长期被动投资者。
- 借款人:主要面向专业借款人,包括运行杠杆循环策略的用户。
- 核心资产:聚焦于蓝筹资产,例如 stETH/ETH 这类价格高度相关的配对资产。
安全与风控措施:
提案列出了多项安全保障机制,包括对被盗或受污染存款的筛查与过滤、有意的资产选择以及市场间的隔离。此外,借贷规则的设计确保在市场压力情境下头寸能够被有序清算。同时,提案承诺当市场完全满仓时,将为贷款人提供退出路径。上线前需通过 DAO 治理投票
Lido Lend 的最终上线仍取决于 Lido DAO 的治理进程。该协议拟由 Lido DAO 进行管理,目前正等待关于其启动及 DAO 对该协议接受度的治理投票结果。
Contributors said that technical specifications, market parameters and audit reports will be announced in subsequent separate posts, emphasizing that "Lido Lend will be launched during this quarter."
Background information:
Lido Lend will become another important product line in addition to Lido's core liquidity pledge services. Previously, Lido launched the EarnUSD stablecoin vault in March this year; in April, Lido also proposed injecting US$5.8 million in stETH to make up for the losses caused by the Kelp vulnerability incident.

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